In a shocking revelation, a massive data leak has exposed sensitive personal information of over 1.6 million individuals, including Indian military personnel, police officers, teachers, and railway workers. This breach, discovered by cybersecurity researcher Jeremiah Fowler, included biometric data, birth certificates, and employment records and was linked to the Hyderabad-based companies ThoughtGreen Technologies and Timing Technologies. 

While this occurrence is painful, it is far from shocking. 

The database, containing 496.4 GB of unprotected data, was reportedly found to be available on a dark web-related Telegram group. The exposed information included facial scans, fingerprints, identifying marks such as tattoos or scars, and personal identification documents, underscoring a growing concern about the security protocols of private contractors who manage sensitive government data.

The impact of such breaches goes far beyond what was capable years ago. In the past, stolen identity would have led to the opening of fake credit cards or other relatively containable incidents. Today, a stolen identity that includes biometric data or an image with personal information is enough for threat actors to create a deep fake and sow confusion amongst personal and professional colleagues. This allows unauthorised personnel to gain access to classified information from private businesses and government agencies, posing a significant risk to national security.

Deepfakes even spread fear throughout southeast Asia, specifically during India’s recent Lok Sabha, during which 75% of potential voters reported being exposed to the deceitful tool. 

The Risks of Outsourcing Cybersecurity

Governments increasingly rely on private contractors to manage and store vast amounts of sensitive data. However, this reliance comes with significant risks. Private firms often lack the robust cybersecurity measures that government systems can implement. 

However, with India continuing to grow as a digital and cybersecurity powerhouse, the hope was that outsourcing the work would save taxpayers money while providing the most advanced technology possible. 

However, a breach risks infecting popular software or other malicious actions such as those seen in other supply chain attacks, which are a stark reminder of the need for stringent security measures and regular audits of third-party vendors.

Leveraging AI for Cybersecurity

Cybercrime is on the rise globally, with threat actors becoming more sophisticated in their methods. The growth of AI has further complicated the cybersecurity landscape. While AI offers powerful tools for defence, it also provides new capabilities for cybercriminals who can use it to pry and prod at a system faster than ever before until a vulnerability is found. What’s more, this technology can be used to automate attacks, create more convincing phishing schemes, and even develop malware that can adapt and evolve to avoid detection.

While this may sound like the ultimate nightmare scenario, this same technology offers significant advantages to cybersecurity teams. AI-driven tools can automate threat detection and response, reducing the burden on human analysts and allowing them to focus on more complex tasks. For instance, large language models (LLMs) can process and analyse vast amounts of data quickly, identifying threats in real-time and providing actionable insights.

AI can also play a crucial role in upskilling employees within cybersecurity teams. With the implementation of LLMs, even less experienced team members can make impactful decisions based on AI-driven insights. These models allow analysts to use natural language queries to gather information, eliminating the need for specialised training in various querying languages. By running queries like “Can vulnerability ‘#123’ be found anywhere in the network?” teams can quickly identify potential threats and take appropriate action.

Furthermore, AI assists in automating routine tasks, allowing cybersecurity professionals to focus on strategic initiatives. It can offer next-step recommendations based on previous actions, enhancing the decision-making process. For example, when an alert is triggered, AI can provide insights such as “This alert is typically dismissed by 90% of users” or “An event looks suspicious. Click here to investigate further.” 

This streamlines operations and accelerates the learning curve for junior analysts, allowing them to quickly become proficient in identifying and mitigating threats, thus leveling up the entire team’s capabilities.

Balancing the Scales

As it has always been in the battle between cybersecurity teams and threat actors, there is no one-size-fits-all solution that can secure all networks. However, machine-speed attacks need a machine-speed autonomous response that only AI can deliver. 

The recent data leak in India highlights the importance of robust cybersecurity measures, especially when dealing with sensitive government data. As cyber threats evolve, so too must our defences. By leveraging the power of AI, cybersecurity teams can remain one step ahead on the frontlines of protecting government data, digital economies, and even the complex infrastructure that keeps society functioning as it does.

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Table of contents:

1. Serverless Data Warehousing: A Revolution for the Modern Data Master
2. Serverless vs. Traditional Data Warehousing: A Comparative Analysis
3. Building a B2B Serverless Data Warehouse on AWS: Recommended Design Patterns
  3.1 Data Ingestion Pipeline
  3.2 Data Transformation and Orchestration
  3.3 Data Storage and Catalog
  3.4 Querying and Analytics
  3.5 Visualization and Reporting
4. Real-world Use Cases for Serverless Data Warehousing
5. The Evolving Landscape of Serverless Data Warehousing: Future Considerations
  5.1 Advanced Redshift Serverless Features
  5.2 Hybrid and Multi-Cloud Integration
  5.3 Security and Governance

Data warehouses have an older design, which becomes stifling in a world where information and data escalate at an exponential pace. Just try to picture hundreds of hours dedicated to managing infrastructure, fine-tuning the clusters to address the workload variance, and dealing with significant upfront costs before you get a chance to analyze the data.

Unfortunately, this is the best that one can expect out of traditional data warehousing methodologies. For data architects, engineers, and scientists, these burdens become a thorn in their side in terms of innovation and the process of gaining insights from increasingly large data sets.

1. Serverless Data Warehousing: A Revolution for the Modern Data Master

But what if there was a better way? Serverless data warehousing is a new concept, and it provides a revolutionary solution away from the chaining constraints that come with managing complex infrastructure. Think about the future, where servers are self-provisioning and can scale up or down based on the load. A world where one pays only for the resources consumed or needed, excluding hefty charges and data investments.

Serverless data warehousing opens up this very possibility. By leveraging the power of the cloud, data engineers or scientists can focus on what truly matters: turning collected information into insights from which organizations can make relevant decisions and gain benefits.

2. Serverless vs. Traditional Data Warehousing: A Comparative Analysis

3. Building a B2B Serverless Data Warehouse on AWS: Recommended Design Patterns

As data architects and engineers, we need to see the importance of proper data pipelines for solid B2B analytics and insights. In this case, serverless data warehousing on AWS remains a suitable solution due to its flexibility and affordability. Now, let us explore the proposed design patterns for creating your B2B serverless data warehousing architecture.

3.1 Data Ingestion Pipeline

The building block is to create a proper data ingestion process that feeds into the ‘real-time’ layer. Here, the AWS Kinesis Firehose stands out. It is a fully managed service that can integrate streaming data in real-time from B2B sources like your CRM or ERP system. Firehose consumes the data and directs it to storage layer S3, which is a low-cost storage layer for storing raw and processed data.

3.2 Data Transformation and Orchestration

In most cases, transformations are made when extracting value from raw data. Enter AWS Glue as the serverless ETL (extract, transform, load) solution. Glue allows you to fulfill data transformations with Python scripts and, at the same time, manage all the stages of data ingestion. This helps in the proper flow of data from B2B sources to the data warehouse without any hitches.

3.3 Data Storage and Catalog

Amazon S3 can be considered the foundation of your data store or data lake. This fast-scaled-out object storage service is an economical solution to store all the B2B data, both in its raw and transformed forms. Also, manage and use the AWS Glue Data Catalog effectively. This centralized metadata repository reduces the problem of finding your data by making data search easy by presenting a list of the data stored in S3 in a catalog.

3.4 Querying and Analytics: 

When it comes to querying large volumes of B2B data securely kept in S3, the hero is Amazon Redshift Serverless. Without requiring manual provisioning of resources, this serverless data warehouse scales workload resources from time to time. Redshift Serverless enables the carrying out of complex analytics on B2B data conveniently.

On the other hand, for ad-hoc B2B data analysis or when dealing with small amounts of data, use Amazon Athena, which is a serverless interactive querying service. Athena enables a user to plug into S3 and query data using standard SQL, so it was developed for flexibility to support impromptu data analysis.

3.5 Visualization and Reporting

Now that the B2B data is wrangled and analyzed, it is time to generate visuals from the derived insights. Amazon QuickSight is the best bet in this regard. Without the need for virtualization of servers, this business intelligence service helps in creating dashboards and reports, allowing better communication of data regarding business-to-business commerce to various stakeholders.

This set of AWS services allows for a scalable, economical, and highly available serverless data warehouse only for B2B analytics.

4. Real-world Use Cases for Serverless Data Warehousing

AWS serverless data warehousing helps B2B businesses analyze large amounts of data and derive maximum value from it. Here’s how it shines in several key areas:

• Customer 360 View: Picture a 360-degree perspective of the B2B clients. Serverless data warehousing can take data from various sources, for instance, the CRM (for example, Salesforce), marketing automation tool (for instance, Market), and website analytics tool (e.g., Google Analytics) through AWS Kinesis Firehose. This data can then be transformed and stored in Amazon S3 for future analysis. By using Amazon Redshift Serverless, the data can be queried to drive insights about customers’ behavior through the different stages of the interaction. This positions the business to dictate the terms of marketing strategies, initiate an effective customer service response, and, in sum, reduce churn rates.
• Sales Performance Analysis: No more speculation when it comes to sales. Redshift Serverless enables the processing and examination of historical sales data by using serverless data warehousing. Product distribution allows for determining when certain products are popular with the customer, what geographical areas of customer interest are the highest, and more. It can be employed in the planning of specific sales that may be expected and, thus, the determination of quotas, since information gathered by this intelligence can be used to devise product offerings that meet a given customer’s needs and the variation of pricing techniques for optimum profitability.
• Supply Chain Optimization: Serverless data warehousing can help turn the B2B supply chain from a reactive to a proactive one. With such data from the Warehouse Management System (WMS) and supplier portals fed into the system instantly, a real-time picture of the available stock situation can be gained, allowing one to avoid stock-outs and find the best delivery route. This enables one to competitively bargain with suppliers on prices, reduce holding costs, and effectively deliver to B2B customers, resulting in their satisfaction and thereby creating loyalty.

These are just a few examples; there are many other possibilities when it comes to applying the value of attentiveness. AWS serverless data warehousing is a critical tool that any B2B organization can use to unlock organizational data in B2B environments to optimize business decision-making across functions, resulting in better efficiency, profitability, and customer relations. 

5. The Evolving Landscape of Serverless Data Warehousing: Future Considerations

The advancement of serverless data warehousing continues gradually, opening up enchanting opportunities for data architects and engineers. Here, we delve into some key areas shaping the future landscape:

5.1 Advanced Redshift Serverless Features: 

What if Redshift Serverless had AI to automatically scale tiered resources in the future? This could mean even more efficient scaling, which happens by automatically responding to workload variations and optimizing expenses. 

5.2 Hybrid and Multi-Cloud Integration: 

With the increasing complexity of data ecosystems, integrating serverless data warehouses with other cloud platforms or on-premises data sources will be important. This will enable you to consolidate the big data platforms and assert full control over their integration throughout the organization. 

5.3 Security and Governance: 

Security and data control are still critical issues to address while implementing data warehousing solutions. With serverless data warehousing, trends and best practices for access controls, encryption techniques, and integration into well-established governance frameworks are awaiting to be implemented. That way, it will be possible to protect the B2B data that is usually considered private while at the same time facilitating efficient data use. 

The future of serverless data warehouses is rather promising and is already proving to present a mighty and versatile platform for B2B data processing. That is why both data architects and engineers are in the right place to be at the core of this great journey. 

Let’s harness the opportunity of serverless solutions such as Redshift Serverless with AWS Rich Ecosystem in order to develop fail-safe, efficient, and cost-optimized data-warehousing solutions that support B2B data-driven decisions.

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Introduction 

In the past few years, we have witnessed rapid advancements in the field of quantum computing (QC), which triggers the potential revolutionization in various industries, such as healthcare, supply chain, and manufacturing. This technology can perform complex computations at an unimaginable speed when compared to classical computers, even against quantum threats.

According to the National Institute of Standards and Technology (NIST), the post-quantum cryptography (PQC) standards are expected to be completed by 2024, allowing quantum vendors and experts to keep up with the six QC trends that intersect machine learning (ML) and artificial intelligence (AI). 

In today’s exclusive AI Tech Park article, we will delve into the top six quantum computing trends for 2024, providing detailed insight for quantum vendors and experts to harness the transformative power of this cutting-edge technology.

1. Quantum-Sensing Technologies

The implementation of quantum sensing technologies will enable IT organizations, quantum vendors, and experts to achieve unprecedented levels of sensitivity and precision in measuring and detecting applications. In 2024, businesses will leverage quantum sensor tools and applications for environmental monitoring, medical diagnostics, and mineral exploration to gather actionable insights and make informed decisions based on highly accurate data.

2. Quantum-Safe Cryptography

With the arrival of quantum computers, traditional cryptographic algorithms will become absolute and vulnerable to quantum attacks. Therefore, organizations will adopt quantum-safe cryptography solutions and technology to protect their sensitive data and communications from quantum threats. The implementation of quantum-safe algorithms, such as quantum key distribution or lattice-based cryptography, will become essential tools for securing digital assets and guaranteeing data privacy in a post-quantum world.

3. Quantum Machine Learning

Quantum computing, when intersected with ML, enables businesses to leverage quantum algorithms for pattern recognition, optimization, and predictive analytics. The quantum machine learning (QML) algorithms will unlock new insights from large data sets, accelerate model training processes, and enable more accurate predictions in numerous domains. The quantum vendors and experts can further explore the possibilities of integrating QML into the data and analysis section to make data-driven decisions to streamline innovation and develop a competitive advantage in this digital world.

4. Quantum Computing as a Service

The introduction of quantum computing as a service (QCaaS) will emerge in 2024 as one of the viable models for businesses that are seeking quantum computing resources on demand without the need for investment in hardware and infrastructure. The QCaaS provides cloud-based quantum computing platforms, software tools, and support services to encourage IT businesses to experiment with quantum algorithms and applications. 

5. Commercialization of Quantum Computing

As QC technology matures, we will witness the commercialization of quantum computing and services as a major introduction for technology companies and startups. In 2024, organizations will gradually adapt to cloud-based quantum computing platforms, enabling them to experiment with new quantum algorithms and applications without the need to invest in hardware. This will provide a competitive edge for quantum computing providers, as they can now partner with IT organizations and develop transformative technology. 

6. Quantum-Assisted Drug Discovery

QC will also revolutionize the drug discovery process, enabling businesses to accelerate the development of new therapies and pharmaceuticals. This year, quantum vendors and experts will leverage quantum algorithms to simulate molecular structure, optimize drug candidates, and predict drug interactions. The implementation of quantum drug discovery in pharmaceutical companies holds a promising breakthrough in treatments to market faster and effectively address medicinal needs. 

Conclusion

Quantum computing holds immense promise for quantum vendors, experts, and businesses as it unlocks new capabilities, solves complex problems, and gains a competitive edge in the digital age. Therefore, to stay up-to-date on the digital world, the above top six quantum computing trends for 2024 will help you explore opportunities to integrate QC into our daily operations. As we embark on this digital journey in this QC era, let’s embrace the possibilities and harness the power of quantum technology to reshape the future of IT organizations.

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Neda, please share some key milestones and experiences from your professional journey that have shaped your perspective and approach as Chief Product Officer at Stibo Systems.

I have the honor of mentoring a couple of young leaders, and they ask this question a lot. The answer I always give is that I approach each day as an opportunity to learn, so it’s difficult to pinpoint a specific milestone. However, there have been some crucible moments where I made radical decisions, and I think those moments have influenced my journey. One of them was my shift towards computer science. Despite having a background in linguistics and initially aspiring to be a teacher, I took a complete shift and decided to explore computer science. Programming was initially intimidating for me, and I had always tried to avoid math throughout my student life. I saw myself more as an art and literature person, and that gutsy shift turned out to be a great decision in the long term. The decision was made by me, but it wouldn’t have turned into a success without support from my mentors and leaders – it’s super important to have champions around you to guide you, especially early in your career. 

Another significant moment was when I accepted a consulting job that involved phasing out legacy systems. This required negotiating with users who would lose functionalities they had been using for years. These conversations were often challenging, and I was tempted to quit. However, I made the decision to stay and tackle the problem with a more compassionate approach towards the application users. It was during this time that I truly understood the nature of change management in the product development process. People find it difficult to let go of their routines and what has made them successful. The more successful users are with their apps, the less likely they are to embrace change. However, sometimes solutions become outdated and need to be replaced – plain and simple. The challenge is how to build a changing product while ensuring that users come along. This story applies to Stibo Systems. We have been around for over 100 years and have managed to transform our business. Stibo Systems is a perfect example of how to build lasting products, be open to change and transformation and make sure you aren’t leaving any customers behind.

Could you provide an overview of Stibo Systems’ mission and how it aligns with the concept of “better data, better business, better world”?

Our heritage extends far back, but we are a cutting-edge technology company. We specialize in delivering data management products that empower companies to make informed decisions, resulting in remarkable outcomes. This approach not only contributes to our sustainable growth but also supports our profitability, allowing us to reinvest and expand.

Our mission statement encapsulates our business ethos – one with a strong sense of conscientiousness. Our primary focus revolves around doing what’s right for our customers, employees and the environment. Customer satisfaction is at the forefront of our priorities, evident in our high software license renewal rates, a testament to our commitment to delivering top-notch products and services.

Moreover, we hold a unique position in the market as one of the few major companies headquartered in Europe. Europe is facing increasing pressure to embrace sustainable practices, and we are actively engaged in leading this transformation. Our commitment extends to reducing our environmental footprint while leveraging our tools to assist large-scale customers in sectors such as retail, manufacturing and consumer packaged goods (CPG) in monitoring and sharing sustainability data. Through these efforts, our aim is to contribute to the creation of a better world.

Better Data

What specific strategies does Stibo Systems employ in acquiring and managing data to ensure it meets the requirements of today and tomorrow?

Stibo Systems helps companies manage their data in a well-governed manner. What does that mean? The very high-level explanation is we help companies acquire data from different sources, manage that data, govern it and prepare it for a specific use. Sometimes, the use case is to build a single source of truth that can be leveraged by other analytics or reporting tools. Other times, we become the input layer for recommendation engines, and sometimes the data is used to build contextualized and relevant product detail pages. 

Data domains we manage include:

• Product data: Think stock keeping unit (SKUs), think digital shelf where customers interact with product data related to price, inventory, color, size – everything that makes a shopper make a purchase decision.
• Location data: Consider a restaurant that has multiple locations and needs to manage and enrich their location data. This can be super useful for fast food or grocery stores, as physical location plays an important role in customer experience. During Covid, we even saw stores using their retail space as a warehouse; all is possible if you manage your location data in a scalable manner.
• Supplier data: Retailers deal with thousands of suppliers. Stibo Systems’ solution enables enterprises to manage supplier data in a central way and even have scorecards for each supplier for a better experience for both retailers and suppliers. An example is that some suppliers are providing excellent product data and assets, and therefore you don’t need to do much working with them, but other suppliers’ data may not be prime time ready. You would need to have more processes and approval workflows – we help retailers manage all that data.
• Sustainability  Sustainability data is becoming a prominent topic for many companies invested in EST and it is a complex topic, as it entails multiple dimensions. We welcome the complexity because our multidomain data management solution provides the foundation to manage sustainability data which can touch; product data, location data, and supplier data. In addition, out of the box functionalities will empower companies to design and deliver sustainability related reporting concerning their products and services

Overall, Stibo Systems Products help companies manage their data and leverage accurate, trustworthy data to make the right business decisions resulting in spectacular results. 

Better Business

Could you share a couple of customer examples where Stibo Systems’ solutions have significantly contributed to their growth and efficiency? How did multi-domain MDM play a role in this?

Stibo Systems has a robust customer base of about 600, and each customer has had results using our solutions. We help with data operations and internal efficiencies around managing data, but more importantly, we help them scale their business and drive business value. Most of our customers are billion-dollar-plus revenue customers – you can imagine they have many employees who touch data, and there are many handovers in the process, leading to high cost of data ops. Using our products help them reduce waste in the process and also reduce data liability. 

Imagine you are a manufacturing company trying to sell a product or service on a digital shelf, whether that digital shelf sits within your own channel or other channels such as Amazon or other marketplaces. Now, imagine the data you published about your product or service is wrong. Besides the embarrassment of having incorrect data, there can be legal consequences, not to mention lost revenue because customers will buy something they were misinformed or misguided on. So, the impact of not having a data management platform can be utterly negative.

Next, picture you are a retailer tasked with increasing your supplier count by 25%, but you don’t have one single headcount to deal with these suppliers. If you are interacting with your suppliers through spreadsheets and emails instead of a solution like Stibo Systems, that will be almost impossible. The same example applies if you are heavily investing in AI, and your machine learning modules are not giving you sufficient results unless you have trustworthy data. Therefore, you will not get the ROI on your data science teams and machine learning applications – recommendations or decision engines all need accurate data. 

Regardless of your industry, Data management is a necessity if you are thinking about scale, efficiency and time to market. And now, with evolving requirements like sustainability and ESG reporting, a data management tool that provides credible data is more important than ever before.  

Better World

What is the foundation story of Stibo Systems, and how does it tie into the company’s commitment to sustainability and ESG goals?

Stibo Systems believes fueling businesses with better data empowers them to make better decisions grounded in accurate data. As an example, we are working with one of the largest connected technical device manufacturers. These folks are amazing at what they do, and they understand the impact they can have on the planet by sharing their carbon footprint with their distributors and taking a collective approach towards reducing carbon footprint in the end-to-end supply chain. We help them manage that data and then share with their distributors at scale. 

Another example is companies that want to share product ingredients with their end customers. We help them with that and also show their customers data depending on their demographics. The keto diet might be a big driver for a certain region, whereas a consumer in the same country but a different zip code may be more interested in buying a whole food ingredient with less carbon footprint.

“Our partnership with Microsoft was in part based on their commitment to having have power purchase agreements for green energy contracted for 100% of carbon-emitting electricity consumed by all Azure datacenters, buildings, and campuses by 2025.”

In summary, Stibo Systems enables companies use their data to support their strategic vision, whether that vision is to become a sustainable company or provide the best digital shelf experience, or have the best experience for your supplier.

Sustainability and MDM

Could you delve into how multi-domain master data management is leveraged to address trending issues, particularly in the realm of sustainability and managing sustainability data?

By 2025, companies operating in the EU will be required to report on their sustainability efforts and progress. This reporting, akin to financial accounting, will encompass aspects like carbon footprint. European companies, as well as multinationals operating in Europe, are actively working to comply with these regulations. However, when we look at regions like Asia or North America, companies that operate within a single region or country might not have the same level of awareness about impending sustainability reporting requirements, primarily because it isn’t yet regulatory there.

Three primary reasons are driving this change. First and foremost is the regulatory aspect. Companies, especially those in the developed world, should proactively prepare to meet these upcoming regulations. Europe is leading the way with its 2025 deadline, and it’s likely that states in the U.S., particularly California, will follow suit. Second, brand reputation is increasingly tied to environmental, social and governance (ESG) issues. Reputation can be influenced by various stakeholders, and companies don’t want to find themselves lagging behind. The impact on the reputation of industries like tobacco and oil due to changing consumer expectations is a stark example.

Last, consumer purchase behavior is evolving. Consumers are becoming more purpose-driven in their choices. While price and product attributes were historically key factors, now, consumers are considering whether a product is good for the planet. They are making choices based on trustworthy information regarding packaging, recyclability, carbon footprint and more.

In essence, we specialize in managing various types of business data, and sustainability data is no exception. Stibo Systems doesn’t generate this data; we make it readily available. As the market shifts towards sustainability-conscious consumer choices and regulatory requirements loom, companies across industries, including grocery retail, will need to consider the carbon footprint of their products and supply chains. This data will play a crucial role in decisionmaking, such as selecting locally grown items with a lower carbon footprint over imported alternatives.

In summary, we focus on consolidating, governing, cleansing, and sharing sustainability data, recognizing the increasing significance of sustainability in today’s business landscape.

Learn more about Stibo Systems’ sustainability data management.

Challenges in Sustainability Reporting

Managing and governing the collection and reporting of sustainability data can be complex and error-prone. How does Stibo Systems approach this challenge and what solutions do you offer to mitigate risks?

Quite frankly, no one has all the answers to this right now. An area we feel we can help is data exchange. At the moment, there are no predefined standards about what attributes are needed or the format that they should be restored in. There’s no metadata dictionary. You might start collecting sustainability data attributes, but you have to keep reissuing them. Certain certifications only last for a year or a fixed period of time before they’re obsolete. And it’s not just capturing a company’s immediate data – it’s their suppliers, who in turn must get data from their suppliers, and so on. 

The key takeaway – sustainability data is more than just an attribute and a value. There’s a context and a lifespan around it. Stibo Systems’ role here is to make it manageable. We help create a formalized process – data controls, guardrails that MDM provides around applying data quality rules, sufficiency scores, business rules, workflows, approval processes and more. Flexibility is a big asset, too. Sustainability data management helps keep you updated as ESG standards change and as new ones come along. You must be agile to compete and win.

Future of MDM and Sustainability

How do you envision the role of multi-domain master data management evolving in the context of sustainability over the next few years? 

More so than ever, businesses are moving beyond sustainability pledges and setting carbon footprint benchmarks and targets. The next phase is about being able to prove the milestones you’ve hit, not only to shareholders and internal stakeholders but to current and future customers. As I said before, nobody has every answer yet – but I feel confident in saying that accurate and transparent data is a big first step toward being able to meet and prove the work that’s being done to lower our carbon footprints and grow sustainably.  

Is there anything else you’d like to add or share with our audience about Stibo Systems’ vision and its impact on businesses and the world at large?

I feel it’s important to point out that Stibo Systems is a business with a conscience. Meeting our sustainability and ESG goals is a realization of our company culture and who we want to be as an organization. We’re taking the same steps as our customers to ensure we are a responsible organization and take actions which are most efficient and beneficial to the surrounding environment and diverse communities. As a symbol of our sustainable growth and development, we plant a tree for every one of our new customers and employees. We are on a journey, and we want to bring our customers along with us. 

Neda Nia

Chief Product Officer at Stibo Systems

As Chief Product Officer at Stibo Systems, Neda Nia is responsible for our Product Organization that consists of Cloud Operations, Product Management, UX, Innovation, and R&D. With over 16 years of global experience spanning technology and commerce, Neda has deep knowledge of our market and has proven to establish product strategies that put the customer first. Before joining Stibo Systems, Neda has been a Managing Director at a global software and technology provider, where she defined a go-to-market strategy in North America, developed partnerships, participated in investment activities, and took part in the company’s global strategy exercises.

Neda holds a degree in Business Administration – Information Technology from Seneca College and has completed a Digital Transformation program from MIT as well as a Business Analysis program from the University of Toronto. As an agile enthusiast, Neda has obtained Scrum Master, Scrum Product Owner, and PMI Agile Practitioner certifications. She is a student at heart and continues to learn about emerging technologies to keep up with the fast-evolving market needs.

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AI and ML are changing the way we live and work. Many people think they’re reserved for tech giants, however. But increasingly we’re seeing SMEs harness the power of these tools. And the benefits are clear: artificial intelligence and machine learning can improve operations, boost customer satisfaction and help companies to outpace the competition – all of which are essential if you want your business to not only survive but thrive. 

Interested in knowing more? Here we look at the benefits of AI and ML in the business world as well as the perceived challenges. 

Customer service

We’ve probably all communicated with a chatbot online when searching our favourite store’s website. In fact, many might not even realise that when you use the chat box function, you’re not actually speaking to a human. This is one of the best examples of how technology can be used to help a business as it offers 24/7 customer support without breaks or vacations, and it’s likely to save money over time too. Even better, these chat boxes provide instant responses to customers, whatever time of the day, meaning customers are better served and we know that is crucial for customer retention and loyalty. That’s not to say there isn’t a place for human customer service agents, instead, your human team can be deployed to other areas of the business and can tackle more complex issues. 

Administration

Data entry, accounts, general admin – these are all essential tasks for business owners to complete but it’s not always easy to find the time to dedicate to them. That’s where AI and ML come in. In fact, AI can automate data entry making it faster and error-free. It can even take care of administrative tasks, report generation, and appointment scheduling meaning you and your team can focus on business-critical tasks. With more time freed up, you’ll likely be able to respond quicker around the business and can put more time into your overall strategy. 

Decision-making 

Another benefit of AI is that it provides deeper insights and can analyse large amounts of data much quicker than a human could. This makes it even easier to predict market demand, understand specific customer preferences and optimise resource allocation.

The challenges in implementing AI

Despite the benefits of AI and ML, we can’t ignore the challenges surrounding it. This includes the difficulties in managing vast data storage, recruiting skilled AI professionals, and not to mention the rapid changes in the AI landscape. Indeed, implementing AI isn’t a one-stop approach. Instead, companies need to continuously innovate to ensure they can keep pace with competitors. Another challenge regarding data privacy and seamless integration with existing systems can also not be ignored. 

That’s not to say AI can’t be implemented successfully or shouldn’t be. In fact, a whole host of SMEs can benefit from it. For example, clothing retailers could tailor their marketing based on customer preferences, manufacturers could predict demand and streamline their supply chain, law firms could draft documents quicker and more accurately and a restaurant could use the technology to optimise their staff during busy times. 

Of course, embracing AI might come with challenges, but the benefits far outweigh them. It just requires a little care and dedication and a strategy behind it. 

Chirag Shah, founder and CEO of Nucleus Commercial Finance and Pulse has over 20 years of experience in the financial services industry and a deep understanding of the needs of UK SMEs. 

In 2011, he founded Nucleus, a leading alternative finance provider, to offer flexible and tailored solutions for SMEs across various sectors and stages of growth. With an understanding of the challenges that UK SMEs face in the current economic climate, Chirag launched Pulse in October 2022, a free-to-use service that helps businesses and accountants gain insights into financial performance with AI-powered data visualisation and personalised dashboards. Chirag is not only committed to driving growth and innovation in the UK business ecosystem, but he’s also helping SMEs better understand their data to boost their profitability and guide them towards success. 

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Kaspersky researchers predict APT actors will introduce new exploits on mobile, wearables, and smart devices and use them to form botnets, as well as refine supply chain attack methods, and utilize AI for more effective spear phishing. These advancements are anticipated to intensify politically motivated attacks and cybercrime.

AI-powered impersonation, the rise of creative exploits for mobile, and new botnets

Emerging AI tools will streamline spear phishing message production, even enabling the mimicry of specific individuals. Attackers may devise creative automation methods by gathering online data and feeding it to LLMs to craft letters in the style of a person connected to the victim.

“Operation Triangulation” made 2023 a groundbreaking year for mobile exploits, potentially inspiring more research into APTs attacking mobile, wearables, and smart devices. We will likely witness threat actors broadening their surveillance efforts, targeting various consumer devices through vulnerabilities and “silent” exploit delivery methods, including zero-click attacks through messengers, one-click attacks via SMS or messaging apps, and network traffic interception. Protection of personal and corporate devices has become increasingly vital.

The exploitation of vulnerabilities in commonly used software and appliances is yet another point where organizations should be vigilant. The discovery of high and critical severity vulnerabilities sometimes receives limited research and delayed fixes, potentially paving the way for new, large-scale, and stealthy botnets capable of targeted attacks.

Growth in cyberattacks by state-sponsored actors and hacktivism as a new normal

State-sponsored cyberattack numbers also have the potential to surge in the year ahead, amid increasing geopolitical tensions. These attacks will likely threaten data theft or encryption, IT infrastructure destruction, long-term espionage, and cyber sabotage.

Another notable trend is hacktivism, which has become more common as part of geopolitical conflicts. Geopolitical tensions indicate a likely increase in hacktivist activity, both destructive and aimed at spreading false information, leading to unnecessary investigations and subsequent alert fatigue of SOC analysts and cybersecurity researchers.

Other advanced threat predictions for 2024 include:

–       Supply chain attacks as a service: operators bulk-buying access

Supply chain attacks targeting smaller firms to breach major ones: the Okta breaches in 2022-2023 highlight the threat’s scale. Motives of such attacks may range from financial gain to espionage. 2024 might witness new developments in dark web access market activities related to supply chains, enabling more efficient and large-scale attacks.

–       Emergence of more groups offering hack-for-hire services

Hack-for-hire groups are on the rise, providing data theft services to clients ranging from private investigators to business rivals. This trend is expected to grow in the coming year.

–       Kernel rootkits are hot again

Despite modern security measures like Kernel Mode Code Signing, PatchGuard, and HVCI (Hypervisor-Protected Code Integrity), kernel-level code execution barriers are being bypassed by APTs and cybercrime groups. Windows kernel attacks are on the rise, enabled by WHCP abuses, and the underground market for EV certificates and stolen code signing certificates is growing. Threat actors are increasingly leveraging BYOVD (Bring Your Own Vulnerable Driver) in their tactics.

–       Managed File Transfer (MFT) systems used for advanced attacks

Managed File Transfer (MFT) systems face escalating cyber threats, exemplified by 2023 breaches of MOVEit and GoAnywhere. This trend is poised to escalate, with cyber adversaries eyeing financial gains and operational disruptions. The intricate MFT architecture, integrated into broader networks, harbors security weaknesses. Organizations should implement robust cybersecurity measures, including Data Loss Prevention and encryption, and foster cybersecurity awareness to fortify MFT systems against evolving threats.

“In 2023, the notable surge in the availability of AI tools didn’t elude the attention of advanced malicious actors engaged in extensive and highly sophisticated campaigns,” Igor Kuznetsov, director, Global Research and Analysis Team (GReAT) at Kaspersky. “However, we anticipate that upcoming trends go beyond AI implications, including new methods for conducting supply chain attacks, the emergence of hack-for-hire services, novel exploits for consumer devices, and more. Our goal is to provide defenders with advanced threat intelligence that stays ahead of the latest threat developments, enhancing their capacity to fend off cyberattacks more effectively.”

The APT predictions have been developed thanks to Kaspersky’s threat intelligence services used around the world. Read the full report on Securelist.

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Leading supply chain visibility provider FourKites today announced an exclusive partnership with Gravity, maker of an award-winning supply chain management platform for many of the world’s leading shippers and freight forwarders. The partnership will extend the real-time visibility offered by the FourKites^® platform to encompass the first mile — from the time an order is placed with a supplier — all the way through to product delivery via a seamless integration with Gravity’s SaaS solution.

The first mile is often the critical link in the supply chain, when raw materials and purchased finished products are shipped from global suppliers to manufacturing and distribution locations. “Last-mile delivery generates a lot of attention and a lot of headlines, and often overshadows the importance of the first mile,” FourKites founder and CEO Mathew Elenjickal says. “If you don’t have sufficient control over your upstream supply chain, everything that comes after the first mile will be less effective.”

Inefficiencies and disruptions in the first mile have significant ramifications on working capital, costs and revenue. Traditionally, companies have attempted to manage the first mile through manual processes, including spreadsheets and phone calls. This cumbersome, disjointed approach results in unpredictability and higher costs. Consequently, shippers lack the visibility to know if they will have sufficient inventory on hand to meet production and/or distribution schedules, and they are unable to collaborate efficiently with their suppliers to ensure material availability and delivery dates.

Gravity’s modern, easy-to-use SaaS solution addresses these issues, offering visibility into and control over the purchase order process — from order creation through changes and fulfillment. This solution will integrate with FourKites’ real-time shipment visibility and order intelligence solutions to ensure that customers have an exception-based, single source of truth for the entire order life cycle. The highly configurable solution, which can be up and running quickly, will provide seamless integration, simpler collaboration and streamlined operations with real-time updates — all in one centralised platform.

“Of any visibility provider on the market, we chose to partner with FourKites because of its deep, trusted relationships with many large Fortune 1000 customers,” said Graham Parker, CEO and founder of Gravity Supply Chain Solutions. “Our partnership will give these brands a seamless, end-to-end picture of their supply chain, so they can react quickly and confidently to any situation. We have been impressed by FourKites’ innovative solutions, its collaborative culture and its impressive track record of delivering value to customers, and we’re thrilled to work together to fortify our efforts and provide a unique offering to the market.”

Founded in 2015, Gravity is headquartered in Singapore, with offices in the United States, the United Kingdom and Hong Kong. The company has rapidly gained traction in the 3PL and freight forwarder space, and counts among its customers the French conglomerate Bolloré SE, Rӧhlig Logistics, Scan Global Logistics and Gebrüder Weiss.

“As FourKites continues to expand into order and inventory management with solutions such as our Order Intelligence Suite, this partnership with Gravity will extend our capabilities even further upstream,” Elenjickal says. “As a result, our customers can be confident that their suppliers will provide the necessary components and parts they expect by the promised date, eliminating the delays, confusion and costs that many people now incorrectly attribute to issues with the last mile.”

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Overhaul, a software-based, supply-chain visibility, risk, compliance, and insurance solution for the world’s leading brands, has strengthened its platform with the latest AI innovation for ongoing advancements in predicting, preventing and immediately responding to in-transit shipment risk. RiskGPT is a new feature that exponentially improves incident response times and accuracy and provides corrective courses of action to those issues in real time, significantly reducing the risk of cargo theft.

An estimated $1.2 trillion in cargo value is set to move through Overhaul’s platform this year. With RiskGPT in their arsenal, users can instantly and intuitively process high-risk events to better manage and mitigate a greater volume of risks. The feature is trained on extensive sources of proprietary intelligence to help Overhaul employees and customers act on events that require human intervention.

For example, an operator could ask RiskGPT how to best respond to a specific customer event with unique circumstances. Because RiskGPT’s model is trained on Overhaul’s extensive data, that operator will get a customized, detailed answer with a high degree of contextual accuracy that can quickly resolve the problem, and is then freed up to handle other challenging issues.

“Global cargo thefts continue to rise, and AI has been crucial in giving companies more visibility around potential incidents,” said Barry Conlon, CEO and Founder of Overhaul. “But we wanted to take that a step further. Even if you can predict an issue and report on it, how do you know how to actively correct it? RiskGPT will help users do that almost instantaneously, bringing our supply chain visibility and proactive risk management capabilities to new heights. Our current theft prevention success rates were topping 98% before RiskGPT, so with it, I am confident we will bring that rate up.”

RiskGPT is the latest addition to Overhaul’s Risk Intelligence product line. It is made available through Overhaul’s partnership with Microsoft and the Microsoft Supply Chain Center. By using its own data in conjunction with the Azure OpenAI Service Studio, Overhaul can continuously fine-tune the language model to offer unparalleled results unique and personalized for each supply chain. Keeping privacy in mind, this combination gives users the advanced language AI capabilities needed, along with the security and enterprise promise of Azure. It is just one of several developments in Overhaul’s AI-driven intelligence product line that will be expanded throughout this year.

Customer excitement is already building:

• “As a global shipper of high value cargo, we understand the importance of fast and effective response to in-transit shipment risk,” said Kok Ee Lian, Global Supply Chain Director at Dyson. “Overhaul continues to show true innovation in its product suite and RiskGPT could be a game-changer with the potential to significantly improve our ability to manage risk with real-time response and corrective action – enabling us to better ensure the safety and security of our cargo.”
• “With the launch of RiskGPT, Overhaul has yet again demonstrated its commitment to driving innovation and pushing the boundaries of technology in the supply chain industry,” said Mitat Aydindag, President of Arvato for North America. “We are proud to partner with a company that consistently delivers cutting-edge solutions that empower businesses to manage risk with greater agility and precision.”

Overhaul’s recent acquisition of SensiGuard will give customers across Latin America, Asia, and Europe access to RiskGPT to optimize supply chain operations and security worldwide.

RiskGPT will be available to an early access user group within Overhaul’s global operations centers this month and the company will be bringing forward customer facing capabilities later this year. Check out a demo of RiskGPT to see how it can revolutionize your unique supply chain visibility needs.

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project44, the leading supply chain visibility platform, announced today that Tim MacCarrick has joined the company as Chief Financial Officer. MacCarrick brings an impressive track record of success in both COO and CFO roles at public and private companies including Qlik, Xerox, DLL and most recently OutSystems. At project44, MacCarrick joins the executive team to focus on core cross-functional initiatives to usher in a new era of growth and operational excellence.

“Tim’s extensive global experience at profitable, high-growth tech start-ups and Fortune 500 companies is a perfect fit for project44’s next stage of growth,” said Jett McCandless, project44 Founder and CEO. “As we enter a new phase of corporate maturity, we are excited to welcome Tim to our executive team.”

MacCarrick has over 25 years of senior executive experience in finance and operations roles. He is known for building and leading high-performance teams to enable transformational operational results. As an expert in driving growth at scale with an execution mindset, MacCarrick’s collaborative leadership style enables positive change for customers, team members and the business as a whole.

“project44 has won the global race to provide critical real-time supply chain visibility,” MacCarrick said. “Jett’s vision is bold and compelling, and his forward-looking, fearless mindset is a clear differentiator. I’m excited to get to work with Jett and the talented team he has assembled to help project44 expand its market leadership position.”

In the last fiscal year, project44 had 51% YoY growth in total GAAP revenue and brought on 411 additional customers. To date, project44 has raised over $900M in capital from some of the world’s top venture and growth equity capital investors including Insight Partners, Emergence Capital, Goldman Sachs, TPG, Sapphire, Generation Investment Management, Thoma Bravo and Chicago Ventures. To learn more about project44’s recent financial results, read its latest release here.

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SxanPro, a healthcare supply management technology company, has launched a new inventory product called LINK. LINK is taking the manual tracking out of physical inventories and providing a digital, data-driven solution to hospitals to help reduce waste from expired and overstock medical supplies.

LINK leverages SxanPro’s patented scanning technology to capture the information from the manufacturer barcode and connect it to the data from a hospital’s master data file. By using the mobile app to replace pen-and-paper inventory processes, instant visibility into expiration date, lot number, product usage and value of on-hand inventory is provided for high-risk and procedure areas. The cloud-based admin portal offers custom reporting and dashboards of inventory metrics available to supply chain leaders to view at any time.

“We found that healthcare leaders wanted an inventory tool that provided more than just a count. LINK is providing an actual ROI by giving supply chain teams actionable data to stay ahead of product expiration all year,” says Ashlea Souffrou, founder and CEO of SxanPro. “Because hospitals don’t know what’s expiring on their shelves, they are losing an average of 8% of their supply spend each year. Our technology has been built to reduce that and our hospital partners are seeing real results.”

In one pilot, a 700-bed hospital used LINK to uncover nearly $2M in expiring, overstocked and unused inventory. In two days, the hospital’s supply chain team was able to move products to high-volume locations, trade in unused, short dated products to the manufacturer and track the exact location and value of items at risk of expiration.

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